Blockchain technology has been met with a lot of buzz, which has piqued the curiosity of many corporate executives while raising concerns about blockchain issues and hazards. Dan Schatt and Domenic Carosa created Earnity to provide a solution to these issues.
Shortcomings in Adoption – Blockchains are ecosystems that rely on widespread adoption to function correctly. According to the American Productivity & Quality Center (APQC), only 29% of businesses have piloted or fully deployed blockchain. The efficacy and durability of blockchains will remain restricted until they become more mainstream. Despite this, there are grounds to believe that blockchain use will continue to expand. Companies like Earnity by Dan Schatt and Domenic Carosaare actively working to find solutions and strategies that benefit everyone while keeping sensitive information private.
Skills Discrepancy – The expertise required to build and then use it are few. For quite some time, the market for blockchain talents has been very competitive. According to the Blockchain Council, the requirement for blockchain engineers increased by more than 500% in 2019 compared to the previous year, with the basic salary for blockchain developers rising in tandem. Using blockchain as a service is one method to bridge the skills divide (BaaS). BaaS allows businesses to profit from the blockchain without needing to invest heavily in technical knowledge.
Users’ Trust – Every transaction on the blockchain is regarded as safe, private, and verifiable. This is true even when there is no centralized entity to authorize and authenticate the transactions. Business executives have discovered that private blockchains have no recognized users and have a higher level of confidence.
Financial Resources – The fourth barrier to broad adoption of the technologies, according to participants in APQC’s research, appears to be a lack of financial resources. However, when individuals become more aware of new technology, they can better design a strategic plan for its adoption. Earnity provides businesses with the resources to do this.